Question
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in
Kansas Supplies is a manufacturer of plastic parts that uses the weighted-average process costing method to account for costs of production. It produces parts in three separate departments: Molding, Assembling, and Packaging. The following information was obtained for the Assembling Department for the month of April.
Work in process on April 1 had 110,000 units made up of the following:
Amount | Degree of Completion | |||||
Prior department costs transferred in from the Molding Department | $ | 152,900 | 100 | % | ||
Costs added by the Assembling Department | ||||||
Direct materials | $ | 89,100 | 100 | % | ||
Direct labor | 37,540 | 60 | % | |||
Manufacturing overhead | 25,070 | 50 | % | |||
$ | 151,710 | |||||
Work in process, April 1 | $ | 304,610 | ||||
During April, 510,000 units were transferred in from the Molding Department at a cost of $708,900. The Assembling Department added the following costs:
Direct materials | $ | 379,080 | |
Direct labor | 196,400 | ||
Manufacturing overhead | 119,980 | ||
Total costs added | $ | 695,460 | |
Assembling finished 410,000 units and transferred them to the Packaging Department.
At April 30, 210,000 units were still in work-in-process inventory. The degree of completion of work-in-process inventory at April 30 was as follows:
Direct materials | 80 | % |
Direct labor | 70 | |
Manufacturing overhead | 35 | |
Required:
a. Prepare a production cost report using the weighted-average method. (Round "Cost per equivalent unit" to 2 decimal places
KANSAS SUPPLIES Assembling Department Production Cost Report- Weighted Average
Flow of Production Units | |
Physical Units | |
Units to be accounted for: | |
Beginning WIP inventory | 110,000 |
Units started this period | 510,000 |
Total Units to be accounted for | 620,000 |
Compute Equivalent Units
Prior Department Costs | Materials | Labor | Manufacturing Overhead | ||
Units accounted for | |||||
Units Completed and transferred out | |||||
From beginning inventory | ?? | ||||
Started and completed currently | ?? | ||||
Total transferred out | ?? | ?? | ?? | ?? | ?? |
Units in ending WIP inventory | ?? | ?? | ?? | ?? | ?? |
Total Units accounted for | ?? | ?? | ?? | ?? | ?? |
DETAILS
Total Costs | Prior Department Costs | Materials | Labor | Manufacturing | |
Costs to be accounted for | |||||
Costs in beginning WIP inventory | ?? | ?? | ?? | ?? | ?? |
Current period costs | ?? | ?? | ?? | ?? | ?? |
Total costs to be accounted for | $ | $ | $
| $ | $ |
Cost per equivalent unit | |||||
Prior department costs | ?? | ||||
Materials | ?? | ||||
Labor | ?? | ||||
Manufacturing overhead | ?? | ||||
Costs accounted for | |||||
Costs assigned to units transferred out | |||||
Prior department costs | ?? | ?? | |||
Materials | ?? | ?? | |||
Labor | ?? | ?? | |||
Manufacturing Overhead | ?? | ?? | |||
Total costs of units transferred out | $ | ||||
Costs assigned to ending WIP inventory | |||||
Prior department costs | ?? | ?? | |||
Materials | ?? | ?? | |||
Labor | ?? | ?? | |||
Manufacturing overhead | ?? | ?? | |||
Total ending WIP inventory | $$ | ||||
Total costs accounted for | $ | $ | $ | $ | $ |
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